Fryzel Supports RBC Comment Extension: Video CUTs

NCUA Board Member Michael Fryzel told CU Times requests from CUNA and NAFCU for an extended comment period on the risk-based capital rule should have been approved.

“There is no rush here to get it done. Let all the comments come in. If they need more time to tell us what they’re thinking, absolutely let them have that time. I would like Chairman Matz to bring that issue to the full board and let the board make the decision as to whether or not additional time should be granted,” Fryzel told CU Times in an exclusive video interview following the monthly board meeting on Thursday.

“I don’t think it should be denied just based on her feeling that it should be. They’re asking for more time. They’re not asking for us not to do the rule although some of them would like us not to. We’re going to do a rule probably somewhere in the future – just give them more time to provide that information. It hurts no one,” he added.

NCUA Board Chairman Debbie Matz told CU Times the request for more time was a delay tactic.

Matz also said the listening sessions would not be included in the official record.

“As part of the Administrative Procedures Act, once the comment period ends, the official comment period is over. But, this will be a good opportunity to have an informal discussion,” she said.

Fryzel told CU Times the comment period should remain open through summer so the NCUA’s listening sessions become part of the official record.